Pistol Bay Mining Notes Upcoming Drill Program for Saskatchewan Uranium Property; Shares Up 45%
Pistol Bay Mining Inc. (PST.V) reports that it has received notice from Rio Tinto Canada Uranium Corporation of the upcoming proposed 1800 metre diamond drill program and ground gravity survey for the Pistol Bay Mining C5 property, located in the Athabasca Basin, Saskatchewan. The program will have a combined budget of approximately $750,000.
Rio Tinto has earned an initial 55% interest in the C Blocks (including C-5) property by incurring $1 million in expenditures and making an initial payment of $147,000 to Pistol Bay Mining in January 2012.
PST shares gained 4.5 cents to $0.145 on volume of 26,000.
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